Tag: Loan

The need for money is never ending and it does not matter how much you earn, you would always be short of it. There are times when you would have to earn more money for certain commitments which are totally unexpected. You would depend on the savings that you have or probably loan some cash. Over a period of few decades money lending system has changed a lot, banks, private organizations have emerged into creating a huge industry for loans.

In this new age century, people mainly depend on credit cards and loans as an immediate form of availing cash when needed. And there are majority of the working population who depend mainly on payday loans. When compared to the conventional loans payday loans are a little different yet more convenient for the salaried professionals. The loan approvals of payday loans are much faster and convenient than any other form of loans. This is the reason why it has become widely popular across the world.

Every once in a while people get stuck with certain issues where they would require money immediately to get out of that situation. Then you would definitely want to depend on your savings, family, friends or loans to get money. Not many people would prefer taking help from a friend or a relative so, for them a bank loan would only be the last resort. There are certain eligibility criteria that you need to meet in order to avail a bank loan.

The duration and the amount of money play a major role for a bank to offer you a loan. You would have to provide a lot of documents to prove your identity, address, income and other relevant documents also. If you are an existing account holder of a particular bank the process of getting a loan would be much easier. Apart from having a bank account if you own a credit card the loan approval would be done in a short period of time and sometimes it could also be only a few hours.

The main difficulty that individuals are being found to buy a car and at the same time benefit from discounts, promotions and grants the government and manufacturers, is whether or not you have all the money in acquiring financing.

And the financial crisis has caused financial institutions give very little credit, at interest rates hovering around 10% and above require a lot of requirements to give us money, so it is very difficult to buy a car in these conditions.

To alleviate this problem and yet this is temporary, the French manufacturer Renault through its financier in Spain has launched an initiative that will provide financing for the purchase of a car. Thus we have until 30 September, the French manufacturer will provide loans up to a maximum of 10,000 euros to an interest rate only 2% taking into account that financial institutions can not find it cheaper 8% -9%, and within three years.

This is an initiative from Renault covering every vehicle in the brand and it is targeted both for individuals and companies not autonomous and fleet owners. Obviously this measure in addition to existing rebates and subsidies in order to increase their sales and that stakeholders will be attracted because the interests are minimal.

If you are under contract with a floor-ceiling clause that allows you to take the downs of the Euribor, and to lower the monthly payments you pay, you have a solution: switch banks. It is a process with their costs, but in some cases is better than paying interest segur above the current trend.

Subrogated

The process of changing bank is called subrogation, and is a figure that indicates clearly that the act of signing with an institution does not bind us to it. If you are a bank with better conditions, we can move our mortgage with him. Continue reading →